Young blood journey

Decided to keep simple journal of my trades, in order to be able reflect later my mistakes and maybe get some valuable criticism from others.

Who am I?

Title says a bit already - young blood, just a little bit more than half into 20s, yes very young.
Update: already 20

How long I have been "trading"?

Considering my age, obviously - not long, might be able to say 1.5 years off and on, but the start itself shouldn't be called trading. Started binary options as soon as turned 18, burned a lot. Did a break, though trading is not for me (it actually might be, no one knows yet), returned again - yes, back into binary options, burned again. Decided to quit it for good. After few months decided to give it a go for forex, so there I am, after 5 months of live/demo trading decided to take it a little bit more serious.

Goal?

Trade to have better life, money wasn't something that I have had more than I have needed, can consider myself from a middle class, with a lot of up & downs in our family.

Trading style?

After looking for holy grail indicators and coming up to understanding that they are showing only past, decided to follow pure PA at S/R. With trusting my guts at the times.

UPDATE: Sticking to one instrument to trade, cannot keep up following all major forex pairs and every news that are coming out. Decided to stick to DAX for now. Yes, it's really hard to trade for beginner, but the harder it's the better lessons it should teach me (hopefully, not something that going to turn into disaster) and it suits my trading hours.

E/U loss

-0.9%

-1.43% today, awful trades.

-2.1% for the week.

No more trading for today, way to tired at the moment.

GU long, seems like nice bounce of pivot in uptrend, as well as nicely from channel range.

GU got stopped out, XAGUSD did shot within few hours.

-0.6% for the week. Basically learning week.

Reminder: split risk into multiple positions, so some part can be left with SL at b/e and "let it run". Would have been nice option for XAGUSD trade.

Were away for some time, was just observing markets without taking any actions due to previous loses (yes, sometimes "cluster" of loses makes me stop - I know, it's what I have to get fixed) . But meanwhile realized very important thing, "what works for me won't necessarily work for you". Someone might give me "holy grail" system, but simply due to my personality I won't be able to use it. Thus, I have to find mine on my own, the path might be hard, but I am ready.

Took some trades on last week for the month, barely got any profit. Overall, slightly above b/e for the month.

Two weeks into month wrap up.

Past two weeks were on winning streak. Although have to do better filtering on high probability set ups and work on my entries. Patience has to be fixed into place as well, got out of USD/JPY trade waaay to early, which had to be held longer, higher tf pa was screaming to stay into trade, got scared out of a bit of volume on 1h candle...

All in all it's getting better.

what is your strategy? what are your entry set ups?

to be in the trade you need to have a plan.

My trading way is as controversial as it gets - reversals. Looking for some sort of rotation signs at S/R.

April finished, month ended up great - way better than expected, pretty much due to second and last weeks of the month and luck.

Major issues
- Still sometimes ending up to early with the entry
- Not proper sizing on different trades
- Exiting to early
- Not protecting winners
- Stuck within same trade bias to long (AUD/NZD)

Has to be fixed asap
- Sizing according to probabilities of positive expectancy of the trade
- ALWAYS protect the winners
- Getting better with entries
- Filtering possible set ups, paying more attention to it

Hey JuniorA , good luck. I'm keeping a journal too, "keeptrying". One thing I'm enjoying (well not really enjoying , but finding beneficial) is posting charts of my trade to visually see what happens as the trade evolves, and then reviewing. It helps me assess my mindset and ideas. I'd like to see your charts showing set up, execution, conclusion all as a picture story. Of course it's your thread so your place to do as you wish.
It doesnt matter that you're young, plenty of old people on the same path with same experiences making the same mistakes!
Cheers and good luck.
H

Thank you for your encouragement, Hellsbells. Although yet I chosen not to post charts for a reason, time is what I am lacking right now and simply posting every trade would take some decent amount of my time. Maybe later I 'll start doing it.

Switching over gears and going to focus on one instrument, since recently came to realization that trading more than 1 for me doesn't work that well. Going to focus on DAX - yes, not something what newbie should be trading, but the harder it is the better it should be for learning purposes. Spread isn't that bad on main hours, so that part shouldn't eat me alive, hopefully.

Going to take Hellsbells advice on posting charts of my trades, will see where it leads me and how is it going to help me.

Starting off today,

2 entries, first tp hit, second got stopped out.

+27.50
-12

P/L +15.5

Your TE looks good. Congrats. Moving forward in the positive. Great job
Cheers h

Done for today,

4 entries, 3 SL hits, 1 TP hit.

-13.80
-10
+61.20
-16 (slippage got me hard on this one, -5 than initial SL)

P/L +21.40

Done for today,

only 2 entries, first SL hit and second was closed few pips before tp

was waiting for good retracement for shorts, but unfortunately missed the one in mid day

-11.20
+51.30

P/L + 40.10

Done for today,

ended up red day, was close to decent loss, although... Moved to DOW today, once DAX main trading hours went off.

Knew DAX's morning bias, but did super awful entries, then out of tilt and impatience placed one decent pending order and other most shitty one, in the end got taken out. Then being away from screen missed good long break out...

But... DOW saves the day! SPY and DOW had almost identical trap for longs set up, so on little retracement went for short. Sadly, move was waaaay bigger than expected, so missed out some decent pips.

-10.70
-16.50
-26.80
-8.50
+21.10
+20.65

P/L -23.89

Done for today,

Was away from the screen most of the day, so only two entries in the morning. Missed the pullback in the morning, got a little bit pissed off at myself, but I am glad I didn't over trade or neither did stupid things. Knowing that it's end of the month helped a bit.

-9.50
+17.70
+16.00

P/L + 24.20

Week + 77
Month +160

Week +77, Month +160
Keep on rocking in this way! All the best for you!

I am silent lurker of yours journal Without you and great people who contribute to it, I wouldn’t have such results, thank you, Brixen.